New York County National Bank v. Massey, 192 U.S. 138 (1904)

U.S. Supreme Court

New York County National Bank v. Massey, 192 U.S. 138 (1904)

New York County National Bank v. Massey

No. 90

Argued December 11, 1903

Decided January 4, 1904

192 U.S. 138

Syllabus

The balance of a regular bank account at the time of filing the petition is a debt due to the bankrupt from the bank, and, in the absence of fraud or collusion between the bank and the bankrupt with the view of creating a preferential transfer, the bank need not surrender such balance, but may set it off against notes of the bankrupt held by it and prove its claim for the amount remaining due on the notes. Pirie v. Chicago Title & Trust Co.,182 U. S. 438, distinguished.

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